Bangalore, July 17 (ANI/Business Wire India): Biocon has been featured amongst the top 25 global biotechnology companies according to a report released by Med Ad News.
The report takes into consideration drug based firms, as these companies provide the best numbers to track the progress of the sector. ompanies have been ranked by revenue and by income and Biocon Limited is the only Asian company to feature in this ranking at Number 20.
BIO 2008, held in San Diego last month, stated that the global biotechnology industry would be a 100 billion dollars annual business by 2010.
The actual revenue has reached 85 billion dollars in 2007. There are close to 5000 biotech companies across the globe. The top 25 biotech companies represent 62 percent of all biotech sales and probably over 90 percent of income.
Reacting to the listing, Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon Limited said, "It is a matter of immense pride for Biocon to be ranked amongst the top global league of Biotech companies. This is a validation of our consistent effort at attaining global leadership and also highlights the true potential of this sector in a country like India. This industry will be a key driver in India's progress towards economic development."
Nineteen of the top 25 companies are based in the U.S., while six companies hail from Europe to India to Australia.